Posts Tagged ‘Gold Flash Crash’

Just before 9:30pm Eastern time or right as China opened for trading, gold (as well as platinum, silver, and virtually all precious metals) flashed crashed when “someone” sold $2.7 billion notional in gold, resulting in a 4.2% or about $50 to just over $1,086/oz, the lowest level since March 2010. Once again an intentional HFT-induced slam with one purpose: force the sell stops.

Gold will remain manipulated & viciously slammed until such time as the suppressed price can be allowed to recover its fair value, which will only happen once those who are accumulating massive amount of physical have their fill. In the meantime, if you can’t beat them may as well join them, as long as physical gold continues to be quite explicitly “on sale.”